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Trader Dale - daily trading levels

  • #8,081
  • Jun 7, 2017 3:18pm Jun 7, 2017 3:18pm
Quoting marinecorps
{quote} agreed. I think his spreadsheet numbers are best case assuming you were always in front of the computer or you put limit orders in and took all trades. It it would be nice like you said to see even demo results from live trading with the human aspect to it because it's different than just posting all of the levels. Problem is that subscription websites never show live results and instead always show trade set-ups. Live results always trump the trade calls posted that are not verified. In any case, I know Dale has a good strategy, but you...
I penny traded his levels before he went commercial as I don't have the funds to invest for now. It just needs a good alerting system to let you know when the trade is in profit and when it's safe to move to BE. I used to put all trades in as limit orders, cancelled them when red news hit. You have to gauge how far away an order is before news as well and adjust for how far away you are from a level before news breaks. Hope that helps?

I personally won't trade tomorrow, am busy with a conference anyhow as well as UK elections, Friday I will play it by ear.

Good luck to all those who will trade over the next two days :-)
Take 1 step forward, two small steps back
  • #8,082
  • Jun 7, 2017 3:21pm Jun 7, 2017 3:21pm
Quoting HappyMe
Here are my levels for the coming session. ps: please don't trade it blind I'm still practicing! {image}
grrrrr...... USDJPY bad level....full SL

I was lucky that the level 109.88 wasn't triggered at 0.002pip or something

Anyway I believe I do something wrong with those levels.....I only don't know what. They are High Volume...it was a thin-profile....what I'm missing here?

Anyone...?!
Attached Images
You can manage risk, but you can't manage the return
  • #8,083
  • Jun 7, 2017 3:42pm Jun 7, 2017 3:42pm
Quoting HappyMe
{quote} grrrrr...... USDJPY bad level....full SL I was lucky that the level 109.88 wasn't triggered at 0.002pip or something Anyway I believe I do something wrong with those levels.....I only don't know what. They are High Volume...it was a thin-profile....what I'm missing here? Anyone...?! {image} {image} {image}
Maybe tested?
Attached Image
  • #8,084
  • Edited 4:51pm Jun 7, 2017 4:14pm | Edited 4:51pm
Quoting GU-Night
{quote} Maybe tested? {image}
huh...?! You are right!! it was tested! o gosh....I have to look why the EA wasn't telling this level was already tested!!

Thanks I overlooked that!

Edit1: that's is annoying....connection problems what has influence on the EA.... I really have to search what's the problem here...

Edit2: indeed in the tester the EA was performing oke....so the problem has to do with the connection problems....
Attached Image
You can manage risk, but you can't manage the return
  • #8,085
  • Jun 7, 2017 4:29pm Jun 7, 2017 4:29pm
btw for tomorrow no levels from me.... it's to tricky to trade tomorrow with a SL of just 10 pips....

if news comes out early or just some rumor....price can shake a little bit I guess....
You can manage risk, but you can't manage the return
  • #8,086
  • Edited 7:04pm Jun 7, 2017 6:50pm | Edited 7:04pm
stop posting your levels.
you show you dont understand.
  • #8,087
  • Jun 7, 2017 9:52pm Jun 7, 2017 9:52pm
Quoting kk100
stop posting your levels. you show you dont understand.
Dont say anything like that.
This simple analysis day by day gives a glimpse to swingtrades.Rly.Time spent on those levels are usefull when do some longer scale trades.
  • #8,088
  • Edited 1:47am Jun 8, 2017 12:10am | Edited 1:47am
Quoting HappyMe
{quote} grrrrr...... USDJPY bad level....full SL I was lucky that the level 109.88 wasn't triggered at 0.002pip or something Anyway I believe I do something wrong with those levels.....I only don't know what. They are High Volume...it was a thin-profile....what I'm missing here? Anyone...?! {image} {image} {image}
To me not tested. You were on the wrong side of PA at the wrong time of day. Look at the news events for the day. If you look now PA crashed through that level short once the EU session is about to start. It was a good level but fundamentals tripped you up.

Edit: for me tested is when it goes to a level doesn't touch and moves away again not to return for some time?
Take 1 step forward, two small steps back
  • #8,089
  • Jun 8, 2017 1:57am Jun 8, 2017 1:57am
Quoting kk100
stop posting your levels. you show you dont understand.
Hi kk100, Am I right you talked to me?

I post my levels because of the interaction and corrections we can give in this thread!

So if you think I do not understand the method Dale was showing please guide me....and correct me. Actually that's the reason why I publishing my levels. For just having some interaction where everyone can learn and correct eachtother
You can manage risk, but you can't manage the return
  • #8,090
  • Jun 8, 2017 2:13am Jun 8, 2017 2:13am
Quoting DrBeercan
{quote} Edit: for me tested is when it goes to a level doesn't touch and moves away again not to return for some time?
Yes, that is what it was isn't it?
His level was 109.680. Price touched 109.668(on my platform) then made a 45 pip reaction away from the level .
  • #8,091
  • Jun 8, 2017 2:13am Jun 8, 2017 2:13am
Quoting HappyMe
{quote} Hi kk100, Am I right you talked to me? I post my levels because of the interaction and corrections we can give in this thread! So if you think I do not understand the method Dale was showing please guide me....and correct me. Actually that's the reason why I publishing my levels. For just having some interaction where everyone can learn and correct eachtother
You have my support, keep going!
Take 1 step forward, two small steps back
  • #8,092
  • Jun 8, 2017 2:16am Jun 8, 2017 2:16am
Quoting GU-Night
{quote} Yes, that is what it was isn't it? His level was 109.680. Price touched 109.668(on my platform) then made a 45 pip reaction away from the level .
Actually I also think it was tested with that reaction!

I mean...with this methode. We are searching for levels where the Banks possibly could protect their levels. That wouldn't mean that the level could not break...but yes it could react...just enough to bank the so wanted pips....

I think that is what was happened..
You can manage risk, but you can't manage the return
  • #8,093
  • Jun 8, 2017 2:19am Jun 8, 2017 2:19am
Quoting HappyMe
{quote} huh...?! You are right!! it was tested! o gosh....I have to look why the EA wasn't telling this level was already tested!! Thanks I overlooked that! Edit1: that's is annoying....connection problems what has influence on the EA.... I really have to search what's the problem here... Edit2: indeed in the tester the EA was performing oke....so the problem has to do with the connection problems.... {image}
Hey mate, I noticed you are using an EA, what is his functionality? Managing SL and level alerts?

best regards and btw, keep those levels coming, they're good IMHO.
thinking outside the box
  • #8,094
  • Jun 8, 2017 2:41am Jun 8, 2017 2:41am
Quoting Mercennary
{quote} Hey mate, I noticed you are using an EA, what is his functionality? Managing SL and level alerts? best regards and btw, keep those levels coming, they're good IMHO.
Thanks,

Indeed I created for me an EA (it's funtioning for me but not complete ready atm)
The functions are:
-RedNews filter (half hour before to after) no trading on specified pair possible. The events must be given by the trader before
-monitor the levels (given by the trader before)
-monitor if level is already passed
-monitor if level is tested and then cancel that level
-if level is reached and not tested then trade (only ECN) and modify directly sl and tp to the givensl en tp/
-all levels tradeble in one EA
-Move to BE if BE-level is reached
-Only possible pairs for this EA: EURUSD / AUDCAD / GBPUSD / USDCAD / USDJPY

Currently I'm working on Calculation of Position size (traded Lots) on a specified Risk%
Currently on the list:
-never trade more then two levels at one moment
-if Margincall is in sight kill all trades
-kill trades if Red-Red important news comes abroad (or just not activating the EA on such news eg. Nonfarm-payroll days....and there are more of that sort of news)

Well I believe that's it....

I really not sure if this EA is going to be foolproof... if not I will not publish it. But oke time will learn....
You can manage risk, but you can't manage the return
  • #8,095
  • Jun 8, 2017 3:16am Jun 8, 2017 3:16am
Quoting HappyMe
{quote} Thanks, Indeed I created for me an EA (it's funtioning for me but not complete ready atm) The functions are: -RedNews filter (half hour before to after) no trading on specified pair possible. The events must be given by the trader before -monitor the levels (given by the trader before) -monitor if level is already passed -monitor if level is tested and then cancel that level -if level is reached and not tested then trade (only ECN) and modify directly sl and tp to the givensl en tp/ -all levels tradeble in one EA -Move to BE if BE-level...
Wow, congrats, sounds really complex and helpful, just the level cancel functionality already makes it worth it! Hope you share it someday
thinking outside the box
  • #8,096
  • Jun 8, 2017 3:32am Jun 8, 2017 3:32am
Quoting Mercennary
{quote} Wow, congrats, sounds really complex and helpful, just the level cancel functionality already makes it worth it! Hope you share it someday
Here is Sevan62's EA. The only downside is that you don't have the mql4 source file but this EA works perfectly. I use it since the beginning. https://www.forexfactory.com/showthread.php?p=9735381#post9735381
  • #8,097
  • Jun 8, 2017 3:39am Jun 8, 2017 3:39am
Quoting GU-Night
{quote} Here is Sevan62's EA. The only downside is that you don't have the mql4 source file but this EA works perfectly. I use it since the beginning. https://www.forexfactory.com/showthread.php?p=9735381#post9735381
Thanks, I know it...sure it works!

But a) I want to see the code (that's my problem ) and b) I just want to have only 1 EA for this method...
And besides that it's also fun to create an own EA
You can manage risk, but you can't manage the return
  • #8,098
  • Jun 8, 2017 3:40am Jun 8, 2017 3:40am
Quoting GU-Night
{quote} Here is Sevan62's EA. The only downside is that you don't have the mql4 source file but this EA works perfectly. I use it since the beginning. https://www.forexfactory.com/showthread.php?p=9735381#post9735381
Thanks mate, I'll test it
thinking outside the box
  • #8,099
  • Jun 8, 2017 4:21am Jun 8, 2017 4:21am
Quoting HappyMe
{quote} Thanks, Indeed I created for me an EA (it's funtioning for me but not complete ready atm) The functions are: -RedNews filter (half hour before to after) no trading on specified pair possible. The events must be given by the trader before -monitor the levels (given by the trader before) -monitor if level is already passed -monitor if level is tested and then cancel that level -if level is reached and not tested then trade (only ECN) and modify directly sl and tp to the givensl en tp/ -all levels tradeble in one EA -Move to BE if BE-level...
Are you able to code if there was a rapid approach to the level just before? Like 20 to 100 pips in a minute should catch a news release?
Take 1 step forward, two small steps back
  • #8,100
  • Jun 8, 2017 4:51am Jun 8, 2017 4:51am
Quoting DrBeercan
{quote} Are you able to code if there was a rapid approach to the level just before? Like 20 to 100 pips in a minute should catch a news release?
yes I can...

But I'm not sure if this is solving something. We are trading here possible area's were market can reverse or can even slowing for a moment. How often do we see sharp moves and in a support/resistance area it is just halting for a moment or even reversing.

The newsfilter is definitely a must....

I'm writing it now and think wait a minute....if there was unknown news (a disaster happened, something say something "important") market can react...and yes maybe that's also in the category of news

yes I believe you have point here!! oke => "On the bucketlist"
You can manage risk, but you can't manage the return
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